Massive Government and Private Sector Job Cuts Coming
CNN Money is reporting State, city layoffs: 45,000 and counting.
With
falling revenue from sales and income taxes, and property-tax declines
looming, states, cities and towns have already laid off tens of
thousands of government employees. The American Federation of State,
County and Municipal Employees, a public employees union, says about
45,000 government layoffs have been announced this year.There
are 29 states, including California, Florida and Ohio, facing a
combined budget shortfall of at least $48 billion in the fiscal year
that starts July 1, according to the Center on Budget and Policy
Priorities [CBPP], a liberal think tank.